Leapmotor, Xpeng report record July sales as their cheaper EVs appeal to Chinese consumers - South China Morning Post

Chinese electrical conveyance (EV) makers Leapmotor and Xpeng reported grounds income past month, spurred by the popularity of their inexpensive cars, arsenic a terms warfare faded pursuing Beijing’s involution to chill the market. After EV builders held backmost connected discounts and interest-free loans to comply with Beijing’s telephone to extremity a brutal terms war, intelligent battery-powered cars priced astatine astir 100,000 yuan (US$13,888) became the superior prime for budget-conscious consumers. Hangzhou-based Leapmotor,...